TAG | Avetine Investment Services Inc
Comments off · Posted by Securities Lawyer in FINRA
Soreide Law Group, PLLC, is currently allerting all investors who suffered losses with Brenda Eschbach of California. Those investors may be able to recover their losses through a FINRA arbitration.
The U.S. Securities and Exchange Commission (SEC) announced on February 14, 2012, it filed a civil injunctive action in the U.S. District Court for the Central District of California charging Brenda A. Eschbach of Tustin, California with securities fraud, investment advisory fraud, and acting as an unregistered broker-dealer. The Commission alleged that Eschbach misappropriated over $3 million in investment advisory client funds from 2003 through 2009.
This complaint alleges that Eschbach began to misappropriate client funds while operating a franchise of a large investment adviser and broker-dealer and that the theft of client funds continued after Eschbach founded Aventine Investment Services, Inc., a now-defunct California corporation. The complaint further alleges that Eschbach did not make investments as directed by her clients, instead stealing their funds and using them to pay for, among other things, living expenses, business expenses, credit card payments, luxury car lease payments, private school tuition, and trips. The complaint alleges that Eschbach concealed her misappropriations by issuing and mailing false and misleading account statements to those clients whom she had defrauded.
If you or a loved one have suffered losses investing with Brenda Eschbach, your losses may be recovered through a securities arbitration.
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